Ultra Clean (NASDAQ:UCTT) Shares Down 3.8% - Here's Why

Ultra Clean Holdings, Inc. (NASDAQ:UCTT - Get Free Report) fell 3.8% during trading on Thursday . The company traded as low as $34.90 and last traded at $35.03. 67,790 shares were traded during trading, a decline of 82% from the average session volume of 368,201 shares. The stock had previously closed at $36.43.

Wall Street Analyst Weigh In

Several brokerages have recently commented on UCTT. Oppenheimer assumed coverage on shares of Ultra Clean in a research report on Wednesday, September 25th. They set an "outperform" rating and a $70.00 price target on the stock. TD Cowen lowered their price objective on shares of Ultra Clean from $60.00 to $57.00 and set a "buy" rating for the company in a research report on Tuesday, October 29th. Finally, Needham & Company LLC dropped their target price on Ultra Clean from $50.00 to $44.00 and set a "buy" rating on the stock in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $57.75.

Ultra Clean Trading Down 4.0 %

The firm has a market capitalization of $1.58 billion, a P/E ratio of 437.05 and a beta of 2.09. The business's 50 day moving average is $36.88 and its two-hundred day moving average is $40.43. The company has a quick ratio of 1.63, a current ratio of 2.75 and a debt-to-equity ratio of 0.52.

Ultra Clean (NASDAQ:UCTT - Get Free Report) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. Ultra Clean had a return on equity of 4.08% and a net margin of 0.18%. The business had revenue of $540.40 million during the quarter, compared to analysts' expectations of $515.88 million. During the same quarter last year, the business posted ($0.03) earnings per share. The company's quarterly revenue was up 24.2% on a year-over-year basis. Analysts expect that Ultra Clean Holdings, Inc. will post 1.09 EPS for the current year.

Insider Activity at Ultra Clean

In related news, COO Harjinder Bajwa purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $33.75 per share, with a total value of $337,500.00. Following the purchase, the chief operating officer now owns 54,291 shares of the company's stock, valued at $1,832,321.25. This trade represents a 22.58 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeffrey L. Mckibben sold 3,422 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $38.20, for a total transaction of $130,720.40. Following the sale, the insider now directly owns 18,805 shares of the company's stock, valued at $718,351. This represents a 15.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired a total of 27,500 shares of company stock valued at $943,275 over the last ninety days. Insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Ultra Clean

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in shares of Ultra Clean in the third quarter worth approximately $309,000. Geode Capital Management LLC lifted its position in Ultra Clean by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,047,719 shares of the semiconductor company's stock worth $41,843,000 after buying an additional 10,501 shares in the last quarter. Barclays PLC boosted its stake in shares of Ultra Clean by 395.1% during the 3rd quarter. Barclays PLC now owns 83,577 shares of the semiconductor company's stock valued at $3,337,000 after buying an additional 66,695 shares during the period. XTX Topco Ltd purchased a new position in shares of Ultra Clean during the 3rd quarter valued at $476,000. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Ultra Clean during the third quarter worth $399,000. 96.06% of the stock is currently owned by hedge funds and other institutional investors.

Ultra Clean Company Profile

Ultra Clean Holdings, Inc develops and supplies critical subsystems, components and parts, and ultra-high purity cleaning and analytical services for the semiconductor industry in the United States and internationally. The company provides ultra-clean valves, high purity connectors, industrial process connectors and valves, pneumatic actuators, manifolds and safety solutions, hoses, pressure gauges, and gas line and component heaters; chemical delivery modules that deliver gases and reactive chemicals in a liquid or gaseous form from a centralized subsystem to the reaction chamber; and gas delivery systems, such as weldments, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system.